Stock Yards Bank & Trust Co. Boosts Stock Holdings in Waste Management, Inc. $WM

Stock Yards Bank & Trust Co. grew its holdings in Waste Management, Inc. (NYSE:WM) by 1.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 152,531 shares of the business services provider’s stock after purchasing an additional 2,508 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Waste Management were worth $33,683,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Waste Management during the 2nd quarter valued at $1,064,206,000. Vontobel Holding Ltd. lifted its holdings in Waste Management by 444.3% in the 3rd quarter. Vontobel Holding Ltd. now owns 2,206,026 shares of the business services provider’s stock worth $487,157,000 after purchasing an additional 1,800,728 shares in the last quarter. Valeo Financial Advisors LLC lifted its holdings in shares of Waste Management by 15,782.4% in the second quarter. Valeo Financial Advisors LLC now owns 1,728,486 shares of the business services provider’s stock worth $395,512,000 after buying an additional 1,717,603 shares in the last quarter. Sustainable Growth Advisers LP lifted its position in shares of Waste Management by 55.5% in the second quarter. Sustainable Growth Advisers LP now owns 2,897,636 shares of the business services provider’s stock worth $663,037,000 after buying an additional 1,034,258 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Waste Management by 982.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 886,164 shares of the business services provider’s stock worth $195,692,000 after acquiring an additional 804,285 shares in the last quarter. 80.40% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Waste Management

In related news, SVP Rafael Carrasco sold 1,380 shares of the company’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $217.06, for a total value of $299,542.80. Following the completion of the sale, the senior vice president owned 15,540 shares in the company, valued at $3,373,112.40. This represents a 8.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.18% of the stock is owned by insiders.

Waste Management Stock Up 0.0%

Shares of NYSE:WM opened at $221.29 on Wednesday. Waste Management, Inc. has a 12-month low of $194.11 and a 12-month high of $242.58. The company has a market capitalization of $89.15 billion, a price-to-earnings ratio of 34.85, a PEG ratio of 2.48 and a beta of 0.59. The business has a 50-day moving average price of $216.51 and a 200 day moving average price of $219.08. The company has a current ratio of 0.84, a quick ratio of 0.80 and a debt-to-equity ratio of 2.36.

Waste Management (NYSE:WM) last posted its earnings results on Monday, October 27th. The business services provider reported $1.98 earnings per share for the quarter, missing the consensus estimate of $2.01 by ($0.03). Waste Management had a net margin of 10.35% and a return on equity of 33.00%. The company had revenue of $6.44 billion during the quarter, compared to analyst estimates of $6.51 billion. During the same quarter last year, the business posted $1.96 EPS. The firm’s revenue for the quarter was up 14.9% on a year-over-year basis. Sell-side analysts expect that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were given a $0.825 dividend. The ex-dividend date of this dividend was Friday, December 5th. This represents a $3.30 dividend on an annualized basis and a yield of 1.5%. Waste Management’s payout ratio is 51.97%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Citigroup reduced their price target on Waste Management from $270.00 to $263.00 and set a “buy” rating on the stock in a report on Friday, January 16th. UBS Group raised shares of Waste Management from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $225.00 to $260.00 in a report on Friday, January 9th. The Goldman Sachs Group started coverage on Waste Management in a report on Monday, November 24th. They issued a “buy” rating and a $256.00 price objective for the company. CIBC decreased their price target on Waste Management from $235.00 to $231.00 and set a “neutral” rating for the company in a report on Wednesday, October 29th. Finally, National Bankshares dropped their price target on shares of Waste Management from $250.00 to $243.00 and set a “sector perform” rating on the stock in a research report on Tuesday, October 7th. Three analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $250.23.

Waste Management Company Profile

Waste Management, Inc (NYSE: WM) is a leading provider of integrated waste management and environmental services in North America. The company offers end-to-end solutions that span collection, transfer, disposal and recycling, along with landfill operations and related infrastructure. Headquartered in Houston, Texas, Waste Management serves a broad customer base that includes residential, commercial, industrial and municipal clients.

Core services include curbside and commercial waste collection, roll-off and temporary container services, materials recovery and recycling, and engineered landfill disposal.